PECB ISO 21502 Foundation key terms

A temporary endeavour undertaken to create a unique product, service or result, carried out with defined objectives, resources and constraints, and terminated when its objectives are achieved or it is abandoned.

The application of methods, tools, techniques and competencies to plan, direct, monitor and control a project so that its objectives are met within agreed constraints of scope, time, cost and quality.

The structured sets of activities, methods and techniques that are selected and applied to manage a project; ISO 21502 groups them into integrated practices that coordinate the whole project and individual practices that address specific areas.

Project management practices that apply across the entire project and coordinate the other practices, such as project leadership, planning, stakeholder engagement, risk and issue management, and monitoring and control.

Project management practices that focus on a specific area of the project, such as scope, schedule, resources, cost, quality, procurement and change control, and are coordinated through the integrated practices.

The series of phases through which a project passes from its initiation to its closure, each phase ending in a decision point where continuation, modification or termination is authorised.

A distinct period within the project life cycle that groups related activities and produces one or more outputs, ending with a review that authorises the next period of work.

A formal decision point at the end of a phase where authorised persons review progress and deliverables and decide whether the project may proceed, be modified, be paused or be terminated.

The framework of authority, accountability, decision rights and oversight arrangements through which the project is directed, supported and controlled by the sponsoring organisation.

The person or group accountable to the organisation for the project's success, who authorises its start, secures resources, provides direction and champions the project at senior management level.

A decision-making body with delegated authority that provides oversight and direction to the project manager, resolves escalated issues and approves significant changes and phase transitions.

The person responsible for achieving the project's objectives by planning, leading, coordinating and controlling the work, resources and stakeholders within the authority delegated by the sponsor.

The group of individuals with the skills and knowledge needed to perform the project's work, who may be assigned full-time or part-time and are directed by the project manager.

A person, group or organisation that has an interest in, can affect, or is affected by the project, its decisions or its outcomes, and whose needs are considered in engagement activities.

A document issued by the sponsor that formally authorises the project or phase, states its purpose, objectives, high-level scope, constraints and success criteria, and names the project manager.

A document describing how the project will be executed, monitored, controlled and closed, integrating the plans for scope, schedule, cost, quality, resources, risk, stakeholders and other practices.

A specific, measurable statement of what the project is intended to achieve in terms of outputs, outcomes, time, cost and quality, against which performance is evaluated.

The agreed measures and conditions used to judge whether the project has achieved its objectives and delivered the intended outputs and outcomes to stakeholders.

A tangible or intangible output produced to complete a project or part of it, such as a document, product component, service or result that is subject to verification and acceptance.

The immediate result of project work, such as a product, service or document, which is delivered to the receiving organisation and may later contribute to outcomes and benefits.

The change in state, behaviour or capability that results from using project outputs, usually realised after the project has closed and owned by the receiving organisation.

The measurable improvements or value that an organisation gains from project outputs and outcomes, which justify the investment and are typically realised beyond the project's operational lifetime.

The process of planning, measuring and confirming that the intended benefits of a project are actually achieved and sustained after outputs are delivered and adopted.

A documented justification for the project that sets out the reasons, expected benefits, costs, risks and options considered, and is reviewed at decision points to confirm continued viability.

A limitation on the project such as fixed budget, deadline, scope, quality standard, resource availability or regulatory requirement that shapes planning and trade-off decisions.

A factor taken as true for planning purposes without proof, which is documented and monitored because if it proves invalid it may affect scope, schedule, cost or risk.

The practice of defining how the project will deliver its objectives by establishing scope, schedule, cost, resource, quality, risk and stakeholder plans that together form the management plan.

The practice of defining and controlling what is and is not included in the project, including collecting requirements, creating the work breakdown structure and preventing unapproved additions.

A hierarchical decomposition of the total scope of work into manageable components, used as the basis for estimating, scheduling, assigning responsibility and controlling work.

The practice of estimating activity durations, sequencing work, identifying dependencies and developing and controlling a timetable that shows when deliverables will be produced.

The longest sequence of dependent activities through the schedule network, which determines the shortest possible project duration and where any delay directly extends completion.

A significant point or event in the project schedule with zero duration, used to mark the completion of a key deliverable, phase transition or decision and to track progress.

An approved version of a plan or schedule against which actual performance is compared, changed only through formal change control so that progress can be measured reliably.

The practice of identifying, acquiring, allocating and developing the people, equipment, materials and facilities needed to perform project work, including managing capacity and availability.

The practice of estimating, budgeting and controlling project expenditure so that the project is delivered within the approved financial envelope and variances are understood and addressed.

A technique that integrates scope, schedule and cost by comparing the value of work performed with planned value and actual cost to forecast performance and completion.

The practice of planning quality requirements, assuring that processes meet them and controlling outputs so that deliverables satisfy agreed acceptance criteria and stakeholder expectations.

The activity of confirming through review, inspection or testing that a deliverable meets its specified requirements and acceptance criteria before it is handed over.

The formal act by which the authorised recipient confirms that a deliverable meets agreed criteria and takes ownership of it, often triggering payment or phase completion.

An uncertain event or condition that, if it occurs, has a positive or negative effect on project objectives, assessed in terms of likelihood and impact and addressed through planned responses.

The practice of identifying, analysing, evaluating and treating uncertainty, assigning owners, and monitoring residual and secondary risks throughout the project life cycle.

An uncertain event with a potentially favourable effect on project objectives, which can be exploited, enhanced, shared or accepted to increase the chance of success.

A problem or situation that has already occurred and is affecting or will affect the project, requiring resolution, ownership and escalation where it exceeds delegated authority.

The practice of capturing, prioritising, assigning, resolving and closing issues, and escalating those that cannot be resolved at the current level of authority.

The formal process for recording, assessing, approving or rejecting and implementing changes to baselined scope, schedule, cost or quality, ensuring decisions are documented and communicated.

The practice of identifying, controlling, recording and verifying the status of project items and documents so that versions, changes and their traceability are maintained.

The practice of identifying stakeholders, analysing their influence and interests, and planning and implementing communication and involvement so they support the project appropriately.

The practice of planning and delivering timely, accurate and appropriate information to stakeholders through agreed channels, formats and frequency to enable informed decisions.

The practice of planning, selecting, contracting and administering external suppliers so that goods and services are acquired on agreed terms and meet project requirements.

A legally binding agreement between the project organisation and a supplier that defines deliverables, obligations, prices, timescales, acceptance terms and remedies for non-performance.

The integrated practice of measuring actual performance against plans, analysing variances, forecasting trends and taking corrective or preventive action to keep objectives on track.

Knowledge captured from experience about what worked and what did not, recorded during and after the project and shared so future projects benefit from it.

The final phase in which deliverables are handed over and accepted, contracts are settled, resources are released, records are archived and the project is formally ended.